Oil giant Statoil has threatened to leave Norway. This is due to new tax laws proposed, according to the newspaper.
The laws, being prepared by the Norwegian government, will bring an increased taxation on oil business abroad. The laws have been proposed as a measure to avoid that the Norwegian state indirectly supports the major Norwegian oil companies’ major foreign activities. If the tax laws become effective, Statoil could end up having to pay USD 398 million more in taxes. Previous estimates stated that the new tax laws would cost Statoil USD 86.5 million, but that figure has now more than quadrupled in size.